The Richmond Corporation Uses the Weighted-Average Method in Its Process

question 345

Multiple Choice

The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the total cost assigned to the ending work in process inventory was:

• A) $126,000
• B) $75,600
• C) $80,100
• D) $95,400

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Definitions:

Effort

The use of physical or mental energy to achieve an objective or complete a task, often considered an important factor in determining success.

Task Difficulty

Describes the level of challenge presented by a task, which can impact an individual's performance and effort required to complete it.

Attitude

A mental inclination characterized by the assessment of a specific entity in a manner that reflects either partiality or aversion.

Ability

The possession of the means or skill to perform a task or achieve an outcome, often acquired through practice or learning.